Market Insight
Market Research Future (MRFR) anticipates the men’s hair color market to project decent growth at a rate of 7.15% between 2023 and 2032 (review period). MRFR also expects the market size to touch USD 0.93 Billion by 2032.
Key Boosters and Deterrents
The expanding millennial population base that is extremely fashion trendy has led to higher consumption of hair color that come in appealing shades. Evolving lifestyles, increase in urbanization, and the growth in the youth populace in developing economies should present a host of profitable opportunities to leading vendors in the following years. Other factors encouraging men’s hair color market growth include the surge in spa and salon services that offer a variety of hair color and that too with professional guidance. The soaring number of metrosexual men combined with the surging per capita disposable income across several regions also benefits the worldwide market.
Major growth boosters in the form of e-commerce channels have emerged to help manufacturers reach out to a bigger consumer base. Online shopping sites and various social media platforms help boost brand awareness among consumers. Product launches by established as well as new players in the men’s hair industry also help facilitate brand recognition.
Market Segmentation
Men’s Hair Color industry can be categorized into product Type, Category, Form, End User and Distribution Channel.
The prime product types available in the market include root touch-up, temporary hair color, permanent and semi-permanent hair color, and others.
Category-wise market segments are conventional as well as natural organic. In 2022, the lead was taken by the conventional segment, as these hair colors are preferred over natural organic ones in view of their low prices and high availability.
Forms considered in the market study are cream gel, powder, and more. The powder segment, in 2022, seized the highest share while the cream gel segment can continue to achieve the fastest CAGR of 7.45% over the given period. Most of the premium, well-known brands of men’s hair colors are available in the cream form, and therefore enjoy higher demand over other forms of men’s hair colors. The powder segment’s growth rate, on the other hand, will be 7.15% between 2023 and 2032.
Commercial and household are the top end-users profiled in the market report. The household segment has stayed at the top since the year 2022, and the commercial segment should escalate at a better growth rate of 7.68% in the forthcoming period.
Some of the prominent distribution channels analyzed in the MRFR report are store-based along with non-store-based. Store-based channels are the leading segment, which comprises convenience stores, specialty stores and supermarkets hypermarkets. These channels are fast garnering traction among men that are interested in personalized form of buying hair color. However, the non-store-based segment can record the highest CAGR of 7.94% over the coming years.
Renowned Players
Indus Valley (India), Kao Corporation (Japan), John Paul Mitchell Systems (US), Combe Incorporated (US), L’oreal S.A. (France), Hoyu Co., Ltd (Japan), Revlon, Inc. (US), NATULIQUE ApS (Denmark), Coty, Inc. (UK) and Cover Your Gray (US) are some of the top key men’s hair color market players.
Regional Analysis
The geographical distribution of the men’s hair color market covers Europe, Asia Pacific or APAC, North America, and RoW/the rest of the world.
As of 2022, the North American market is the most lucrative and can remain so throughout the evaluation period, since the customers in the region not only desire to cover gray hair but also wish to make a style statement. Growth in the number of men wishing to be stylish translates into significant sales of hair colors in the region. A number of companies in North America have celebrities or beauty experts as their brand ambassador to promote their products, which helps widen the customer base. It is also observed that consumers in the US spend considerably on cosmetics and various personal care products, encouraged by heavy promotional activities and advertising.
APAC can project the fastest growth at the rate of 7.20% in the ensuing years, as the market witnesses frequent product development and launches. Consumers are increasingly being introduced to different men’s hair color products that are specific to their skin and hair type, resulting in booming sales. As a result, companies in the region are spending generously on marketing activities to attract a higher number of consumers.
Read More Blogs:
Organic Hair Color Market Research Report Information By Item Type (Long-Lasting and Transitory in Light), By Structure (Powder, Cream, and Others), By End-Use (Individual and Business), and by Region (North America, Asia-Pacific, Europe, and Rest of The World)—Forecast Till 2027
Hair Care Market Research Report Information By Type (Shampoo, Hair Styling, Conditioner, Hair Colorant, and Hair Oil), By Treatment (Hair Treatment and Scalp Treatment), By Distribution Channel (Store-Based and Non-Store-Based), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
Hair Color Market Size, Share, Industry, Analysis with Research Report Information by Product Type (Permanent Hair Color, Demi-Permanent Hair Color, Semi-Permanent Hair Color, Semi-Permanent Hair Color, Temporary Hair Color, Root Touch-Up), By Category (Conventional, Natural Organic), By Nature (Professional, Consumer (DIY)), By Forms (Powder, Cream Gel), By End User (Men, Women, Unisex) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
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